Disney up on advertising

Walt Disney has reported a sharp rise in profits thanks to increased advertising revenue and the popularity of its theme parks. Net profit for the final quarter of last year came in at $1.3 billion up more than 50 per cent compared with the $844 million the company made a year earlier. Revenue rose by 10 per cent to $10.7 billion.

Revenue at Disney’s media networks, which include ABC and ESPN, rose 11 per cent to $4.6 billion, while operating profit rose by almost a half to $1.1 billion.